Bitcoin, Alts, Memes - The pump and dump Saga
Hello everyone,
In this blog I will be sharing about the pump and dump going on in the market. So stay with me if you are interested about this and hopefully this blog will be worth your time at the end of it.
Recently we have seen Bitcoin, Ethereum, and Meme coins sky rocketing. While bitcoin came all the way up from 49 to 90 thousand dollars. Meme coins also pumped by 50-200% and even more.
In this pump and dump even Eth take a upsurge of 1000 dollars approx and that is obviously not a joke. This leaves us to the poor alt coin holders who are frustrated about their portfolio resting at the same place.
First of all if you have researched well about the narrative of coins you are holding with their usecase I will ask you to not give up on your long term holdings. It is one of those ideas where the regret is more compared to any other situation.
For example we saw DOGE going 3x in just few days while other good projects like arbitrum are still not pumped that much. This is simply because DOGE has a lot of things to do with the elections that happened recently.
For your alt holdings, the pump will come when bitcoin dominance start decreasing. That is what you have to focus on the most because bitcoin dominance decrease and then Alt season comes in play.
So for myself I will be waiting for the domination of bitcoin to decrease and then only I will expect the floating of money to alt coins when we start witnessing 10-20x returns on the portfolio we are holding.
Also if you want to play with memes don't get into them with all your money. At most take 10% of your entire portfolio but that too is not recommended. At the end of the day you are always free to explore but also don't end up losing all your money while doing it.
That's all for the blog today, I will share more soon with everyone.